Company Registration No. NI651179 (Northern Ireland)
Currie Fabtech Limited
Unaudited accounts
for the year ended 30 September 2023
Currie Fabtech Limited
Unaudited accounts
Contents
Currie Fabtech Limited
Company Information
for the year ended 30 September 2023
Company Number
NI651179 (Northern Ireland)
Registered Office
45 Dullaghy Road
Coleraine
BT515PB
Accountants
Gray + Press Accountants Limited
Unit 4A Channel Wharf
21 Old Channel Road
Belfast
BT3 9DE
Currie Fabtech Limited
Statement of financial position
as at 30 September 2023
Intangible assets
391,374
495,874
Tangible assets
1,627,987
1,753,623
Inventories
119,724
137,131
Cash at bank and in hand
478,470
908,763
Creditors: amounts falling due within one year
(1,566,211)
(3,659,909)
Net current liabilities
(601,106)
(1,102,073)
Net assets
1,418,255
1,147,424
Called up share capital
3
3
Profit and loss account
1,418,252
1,147,421
Shareholders' funds
1,418,255
1,147,424
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 March 2024 and were signed on its behalf by
John Currie
Director
Company Registration No. NI651179
Currie Fabtech Limited
Notes to the Accounts
for the year ended 30 September 2023
Currie Fabtech Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI651179. The registered office is 45 Dullaghy Road , Coleraine, BT515PB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land and Buildings per the fixed asset note represent improvements to the leasehold property.
Land & buildings
20% Straight Line
Plant & machinery
10% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
20% Reducing Balance
Other tangible fixed assets
20% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation has been provided at 10% straight line to write the assets off over their estimated useful lives of 10 years.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Expenditure on research and development is written off in the year in which it is incurred.
Currie Fabtech Limited
Notes to the Accounts
for the year ended 30 September 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
At 30 September 2023
913,874
Charge for the year
104,500
At 30 September 2023
522,500
At 30 September 2023
391,374
At 30 September 2022
495,874
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 October 2022
84,564
2,397,107
29,980
54,712
2,566,363
Additions
5,697
110,768
-
11,849
128,314
Disposals
-
(86,000)
-
-
(86,000)
At 30 September 2023
90,261
2,421,875
29,980
66,561
2,608,677
At 1 October 2022
35,679
730,170
17,332
29,559
812,740
Charge for the year
17,664
164,446
3,162
5,984
191,256
On disposals
-
(23,306)
-
-
(23,306)
At 30 September 2023
53,343
871,310
20,494
35,543
980,690
At 30 September 2023
36,918
1,550,565
9,486
31,018
1,627,987
At 30 September 2022
48,885
1,666,937
12,648
25,153
1,753,623
Amounts falling due within one year
Trade debtors
366,911
511,942
Currie Fabtech Limited
Notes to the Accounts
for the year ended 30 September 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
14,967
51,719
Amounts owed to group undertakings and other participating interests
816,327
1,683,818
Taxes and social security
141,097
173,336
Other creditors
108,885
373,980
Loans from directors
411,531
1,269,129
8
Transactions with related parties
The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group companies.
9
Average number of employees
During the year the average number of employees was 18 (2022: 19).